Flughafen Wien Ag · VIE:FLU
Flughafen Wien — Q1 2019 Earnings Presentation
27 slides from Flughafen Wien's earnings presentation, May 2019
Slide 1: Flughafen Wien Group Q1/2019 Results
FLUGHAFEN WIEN GROUP Q1/2019 Results
Slide 2: Q1/2019: Positive traffic development – Slight upward revision of guidance
Q1/2019: Positive traffic development – Slight upward revision of guidance ✈ Q1/2019 – Passenger growth Vienna Airport Group at +19.9%, Vienna Airport at +24.6%; more passengers in Malta (+2.6%), decline in Kosice (-8.5%) ✈ Revenue increase to € 177.3 million (+8.2%), EBITDA improvement of 10.5% to
Slide 3: Positive development of EBITDA margin documents significant productivity rise
Positive development of EBITDA margin documents significant productivity rise 50% 45% 40% 35% 30% 25% 43.4% 44.5% 43.3% 43.8% 41.7% 20% 37.7% 40.0% 39.5% 40.4% 15% 30.7% 10% 5% 0% 2011 2012 2013 2014 2015 2016 2017 2018 Q1/2018 Q1/2019 Adjustment of figures for 2011-2016 as a result of the FMA decis
Slide 4: Good business results thanks to revenue development and cost discipline
Good business results thanks to revenue development and cost discipline in € million Q1/2019 Q1/2018 ∆ in % Revenue 177.3 163.9 +8.2 Earnings before interest, tax, depreciation and amortization (EBITDA) 71.6 64.8 +10.5 Earnings before interest and taxes (EBIT) 38.4 33.3 +15.1 Financial results -3.5
Slide 5: Cost level slightly above prior-year
Cost level slightly above prior-year ✈ Expenses for consumables and services ∆ in used at the prior-year level: energy costs in € million Q1/2019 Q1/2018 % stable at € 5.0 million despite growth as a Consumables and result of energy-saving measures services used -11.2 -11.3 -1.0 ✈ Personnel expenses
Slide 6: Further reduction of net debt by € 40.8 million
Further reduction of net debt by € 40.8 million Q1/2019 Q1/2018 ∆ in % Net debt (€ million)1 157.4 198.2 -20.6 Gearing (%)1 11.9 15.3 n.a. Cash flow from operating activities 72.3 52.9 +36.6 (€ million) Free cash flow (€ million) 24.6 13.0 +88.9 CAPEX (€ million)2 25.9 71.3 -63.6 Equity (€ million)3
Slide 7: Ongoing positive development of net debt and gearing
Ongoing positive development of net debt and gearing ✈ Net debt1 down € 40.8 million to € 157.4 March 31, 2019 Jan. 1, 2019 ∆ in % million Net debt1 ✈ Slight rise in equity by 1.9% to € 1,322.1 157.4 198.2 -20.6 (in € million) million Gearing1 (in %) 11.9 15.3 n.a. ✈ Non-current assets basically at
Slide 8: Free cash flow underlines financial strength
Free cash flow underlines financial strength ✈ Close to doubling of free cash flow, ∆ in in € million Q1/2019 Q1/2018 primarily due to improved cash flow from % operating activities despite higher cash flow Cash flow from 72.3 52.9 +36.6 from investing activities operating activities ✈ Cash flow fro
Slide 9: Share price development since January 2012
Indexed 9 -50 100 150 200 250 300 350 400 450 0 50 Jan 2012 Apr 2012 Jul 2012 Oct 2012 Jan 2013 FWAG Apr 2013 Jul 2013 Oct 2013 Jan 2014 Apr 2014 ATX Jul 2014 Share price development from Jan. 1, 2012 to May 17, 2019 Oct 2014 Jan 2015 Apr 2015 Jul 2015 Oct 2015 Jan 2016 Apr 2016 Jul 2016 Oct 2016 Ja
Slide 10: 3rd Runway: Vienna Airport welcomes Austrian Constitutional Court decision
3rd Runway: Vienna Airport welcomes Austrian Constitutional Court decision This decision ensures long-term growth perspectives and competitiveness, not only for Vienna Airport but for Austria‘s economy, industry, tourism and labour market. Vienna Airport will now strongly focus on the project. The d
Slide 11: Airport City emerging as an “innovation hub”
Airport City emerging as an “innovation hub” ✈ Vienna Airport enters into partnership with startup incubator Target: Airport City should become a centre for innovative startups in the eastern region of Austria Excellent geographical location and easy accessibility via air, railway and road conne
Slide 12: Airport City and Airport Region continue to grow
Airport City and Airport Region continue to grow ✈ Airport City: Lowest vacancy rate on the Viennese office market at 2.2% (Source: Vienna Research Forum) ✈ Vienna Pharma Handling Center for temperature- sensitive pharmaceuticals in operation since December 2018 ✈ 3rd hotel at the airport in prepara
Slide 13: Positive outlook for 2019: Significant rise in earnings and investments
Positive outlook for 2019: Significant rise in earnings and investments – Slightly improved guidance <Outlook 2019 Revenue > € 830 million EBITDA > € 375 million Group net profit1 > € 170 million Net debt < € 150 million CAPEX ~ € 220 million 1) Before non-controlling interests 13
Slide 14: Segment Results Q1/2019
14 => ANI Vienna International Airport
Slide 15: “Best Airport Staff in Europe“ also in 2019
“Best Airport Staff in Europe“ also in 2019 ✈ Vienna Airport is already European champion for the fourth time in the ranking of the air transport rating agency Skytrax First place for Vienna Airport in the years 2015, 2016, 2017 and 2019 2018: European Vice Champion for the “Best Airport Staff i
Slide 16: Airport: Strong EBITDA and EBIT growth thanks to record passenger volume
Airport: Strong EBITDA and EBIT growth thanks to record passenger volume ✈ Surge in growth at Vienna Airport in € million Q1/2019 Q1/2018 ∆ in % continues: 6.1 million passengers External revenue 83.2 74.4 +11.7 (+24.6%) in Q1/2019 EBITDA 34.7 28.7 +21.1 ✈ Flight movement rise once again EBIT 13.8 8
Slide 17: Handling & Security Services: slight revenue decline
Handling & Security Services: slight revenue decline ✈ Revenue decline based on contractual in € million Q1/2019 Q1/2018 ∆ in % adjustments with the LH-Group and lower de-icing revenue in spite of slight External revenue 38.5 39.5 -2.6 rise in flight traffic handling from new EBITDA 1.2 5.0 -76.2 cu
Slide 18: Retail & Properties: Strong growth in all areas
Retail & Properties: Strong growth in all areas ✈ New business area bundles competencies in the “Center Management & Hospitality“ – includes in € million Q1/2019 Q1/2018 ∆ in % Shopping & Gastro and is complemented by results from Advertising, VIP & Lounges (Passenger Services) External revenue 36.2
Slide 19: Malta: Earnings improvement related to passenger growth
Malta: Earnings improvement related to passenger growth ✈ Ongoing growth: 1.2 million in € million Q1/2019 Q1/2018 ∆ in % passengers, up 2.6% External revenue 15.6 13.9 +11.9 ✈ Substantial revenue growth: Airport as EBITDA 7.4 5.8 +28.5 well as Retail & Properties revenue benefit from higher passeng
Slide 20: Results of strategic investments in 2018
Results of strategic investments in 2018 Malta Int. Airport Airport Kosice Q1/2019 Q1/2019 ✈ Approx. 1.2 million PAX (+2.6%) ✈ Approx. 0.1 million PAX (-8.5%) 2018 2018 ✈ ~6.8 million passengers (+13.2%) ✈ ~0.5 million passengers (+9.1%) ✈ Revenue: € 92.2 million ✈ Revenue: € 13.3 million ✈ EBITDA:
Slide 21: Traffic Results Q1/2019
TRAFFIC RESULTS = 21 => ANI Vienna International Airport
Slide 22: Traffic development Q1/2019 Flughafen Wien Group
Traffic development Q1/2019 Flughafen Wien Group Group passenger development Q1/2019 Q1/2018 ∆ in % Vienna Airport (millions) 6.06 4.86 +24.6 Malta Airport (millions) 1.20 1.17 +2.6 Kosice Airport (millions) 0.08 0.09 -8.5 Vienna Airport and its strategic 7.35 6.13 +19.9 investments (VIE, MLA, KSC)
Slide 23: Shares of scheduled airlines
Shares of scheduled airlines Q1/2019 Share in % Passengers PAX ∆% vs. Q1/2018 1. Austrian Airlines 39.6 2,400,124 +8.6 2. Laudamotion 8.0 487,016 n.a. 3. Eurowings 7.6 462,651 -10.9 4. Wizz Air 6.4 387,586 n.a. 5. easyJet Group1 4.6 281,682 +19.5 6. Lufthansa 3.4 206,831 -4.6 7. Turkish Airlines 1.9
Slide 24: Traffic development at Vienna Airport in April 2019
Traffic development at Vienna Airport in April 2019 New all-time high on April 12th: PAX of 106,969 April/2019 April/2018 ∆ in % Passengers (millions) 2.74 2.17 +26.6 Local passengers (millions) 2.09 1.58 +32.2 Transfer passengers (millions) 0.62 0.58 +8.2 Flight movements (in 1,000) 22.84 19.57 +16
Slide 25: Highlights in 2019
Highlights in 2019 Up to to +221 frequencies in the summer flight schedule 15 new destinations 4 new airlines LCC highlights im SFP 2019 (incl. Charter) thereof 3 new long-haul routes: • Air Canada • Eurowings: 32 destinations • Tokyo-Haneda, • ANA • Laudamotion: 31 destinations • Ürümqi/Guangzhou •
Slide 26: Traffic forecast for 2019
Traffic forecast for 2019 Flughafen Wien Group: 2018 Forecast for 2019 +8-10% Passengers 34.4 million (approx. 38 million) Flughafen Wien AG: 2018 Forecast 2019 >10% Passengers 27.0 million (approx. 30 million) ✈ Passenger growth in 2018 continuing unabated in 2019 ✈ VIE: Share of low cost carri
Slide 27: Thank you for your attention!
THANK YOU FOR YOUR ATTENTION! 27